Oman Banknotes: History, Notable Notes & Collecting Guide
Oman quietly carries one of the strongest currencies on Earth. A single Omani rial is worth well over two US dollars, which makes it, by exchange rate, one of the highest-valued currency units in the world. Behind that number sits a young paper-money story: the Sultanate only replaced the Gulf rupee in 1970, so every era of Omani notes, from the short-lived Saidi rial to the modern portraits of its sultans, fits into a single collectible timeline.
Omani rial (OMR) 1,000 baisa Central Bank of Oman Among the world's most valuable currencies
Last updated: July 2026
The currency of Oman is the Omani rial (ISO code OMR), divided into 1,000 baisa and issued by the Central Bank of Oman. What makes the rial stand out is its value: by exchange rate it is consistently ranked the third most valuable currency unit in the world, after the Kuwaiti dinar and the Bahraini dinar (per the exchange-rate ranking noted on Wikipedia's Omani rial entry). For collectors, Oman offers something unusual: a compact, well-defined series that begins only in 1970 with the Saidi rial, moves through the founding of the Central Bank of Oman in the mid-1970s, and continues to a run of national-day commemoratives and a polymer note dated 2025 that entered circulation in January 2026, all anchored to a currency that has stayed remarkably stable.
What is the Omani rial?
The Omani rial (OMR) is the official currency of Oman, divided into 1,000 baisa and issued by the Central Bank of Oman.
Unlike most currencies, the rial is not split into 100 smaller units but into a thousand. One rial equals 1,000 baisa, which is why you will see fractional notes such as 100 baisa and 200 baisa alongside the whole-rial denominations. The Central Bank of Oman, based in Muscat, is the sole authority that issues, holds, and recalls the country's currency. In November 2025 the bank also launched an official written symbol for the rial to standardize how it appears on financial and digital platforms.
The rial's defining trait is its value. By exchange rate it is one of the highest-valued currency units in the world, ranked third after the Kuwaiti dinar and the Bahraini dinar in the exchange-rate ranking cited on Wikipedia's Omani rial entry. That strength comes from a long-standing fixed peg: the Central Bank of Oman has held the rial at 1 rial to US$2.6008 since 1986, after an earlier peg of 1 rial to US$2.895. So a single rial is worth roughly two and a half US dollars, and even a modest-looking Omani note carries real face value. This is a currency-stability story, the opposite of the collapse cases in our reference on every hyperinflation ranked.
How did the Saidi rial become the Omani rial?
Oman's modern paper money began in 1970 with the Saidi rial, which the Omani rial replaced at par in November 1972 as the country took its present name and later founded its central bank.
Before 1970, Oman used the Gulf rupee, a currency issued for the Gulf states rather than one of its own. On 7 May 1970 the Sultanate introduced the Saidi rial, named after the ruling House of Al Said and not to be confused with the Saudi riyal, to replace the Gulf rupee at a rate of 1 Saidi rial to 21 rupees. Like the rial that followed, it was divided into 1,000 baisa. The Saidi rial was short-lived, which is exactly what makes its notes interesting to collectors today.
In 1970 Sultan Qaboos renamed the country from the Sultanate of Muscat and Oman to the Sultanate of Oman, and in 1972 the currency was renamed at par from the Saidi rial to the Omani rial. On 11 November 1972 the Omani rial replaced the Saidi rial at par, and on 18 November 1972 the Oman Currency Board issued the first notes denominated in Omani rials, from 100 baisa up to 10 rials. The final step came a few years later: the Central Bank of Oman was established in December 1974 and began operations on 1 April 1975, taking over from the Currency Board. From the mid-1970s the Central Bank issued its own family of notes, adding the 20 and 50 rial denominations in 1977. That short arc, from Gulf rupee to Saidi rial to Currency Board to Central Bank, all inside a single decade, is why Oman is such a clean country to collect.
What makes Omani banknotes collectible?
Omani notes appeal to collectors because the whole series is compact and well-defined, several early issues have been demonetized and thinned in supply, and the designs trace the country's modern renaissance under Sultan Qaboos.
The earliest issues are the prizes. Saidi rial notes come from a window of barely two years, and the first Central Bank family carries the national emblem, a sheathed khanjar dagger over two crossed swords, with Sultan Qaboos bin Said appearing on the higher 20 and 50 rial values. In 2019 the Central Bank demonetized banknotes issued between 1976 and 1995, which reduced the number of clean surviving examples and sharpened collector interest in those early notes. From there the story becomes a run of national-day commemoratives and modern portraits. The table below groups the notes a collector is most likely to meet, described in general terms rather than by catalog number, since cataloging and inventory vary.
| Series or era | Period | What is on it | Why collectors want it |
|---|---|---|---|
| Saidi rial notes | 1970 to 1972 | Oman's first modern paper money, replacing the Gulf rupee, in baisa and rial denominations | A short-lived first issue from the final years of the Sultanate of Muscat and Oman, scarce and historically significant. |
| Oman Currency Board first rial series | 1972 to 1975 | The first notes denominated in Omani rials, from 100 baisa to 10 rials | The founding series of the modern rial, issued as the country took its present name. |
| First Central Bank of Oman family | 1976 to 1985 | The national emblem on lower values, Sultan Qaboos on the 20 and 50 rial, forts and landmarks on the reverses | Demonetized in 2019, which thinned the surviving supply and lifted collector interest in the early notes. |
| National Day commemoratives | 2005, 2010, 2015 | Colored 1 rial notes for the 35th and 45th National Days, plus a full 2010 family for the 40th National Day and Sultan Qaboos' 70th birthday | Dated, single-year issues tied to national milestones, popular with theme collectors. |
| 2020 anniversary 50 rial | Issued 2020 | Sultan Qaboos, the Central Bank building, Mirani Fort, the national emblem, and government buildings on the back | Marks the 50th anniversary of Oman's modern renaissance and serves as a memorial to the late Sultan Qaboos. |
| Polymer 1 rial | Dated 2025 (circulated Jan 2026) | A polymer note featuring Sultan Haitham bin Tariq | The newest chapter of the rial and the first circulating note to carry the current sultan. |
Because many modern Omani notes were saved rather than spent, a good number survive in Uncirculated condition. Uncirculated (UNC) is the top of the letter-grade ladder that runs UNC, AU, XF, VF, F, VG, G, and it means a note was never folded or handled in commerce. The pre-2019 issues are harder to find crisp, which is part of their appeal. To understand how condition is judged and what the numbers on a certified holder mean, see our banknote grading guide.
How do you start collecting Omani notes?
Start with one note where the story or the design is the draw, a Sultan Qaboos portrait note or a national-day commemorative in Uncirculated condition, from a source-first dealer.
A good first purchase is a note that shows what makes Oman distinctive on the paper itself. A modern note with a portrait of Sultan Qaboos and an Omani fort or landmark is the clearest example, and a national-day commemorative such as the 2010 or 2015 issue adds a dated event you can point to. From there many collectors build toward a small type set: one modern portrait note, one commemorative, and, budget allowing, an early Central Bank or Saidi rial note that reaches back to the founding years. Because the currency itself is high-value, even circulated notes carry meaningful face value, so focus on clean, well-centered examples and let condition guide you. For a full walkthrough of choosing a focus, budgeting, and buying safely, read how to start collecting world banknotes. If you want the strongest guarantee of condition, look for examples already certified by PMG or PCGS in our graded banknotes.
Where can you buy Omani banknotes?
Buy from a dealer that documents where its notes come from and stands behind them. Planet Banknote stocks Omani notes across the eras described above, sourced direct and inspected in-house rather than resold from anonymous lots. Rather than quote collector prices that shift with inventory, we point you to the live listings.
Every note Planet Banknote sells passes our Planet Banknote Verified inspection and ships with a free Certificate of Authenticity, so your purchase is tied to a named, reachable business. If you are new to buying world paper money, our guide on how to start collecting world banknotes covers vetting a dealer and reading a listing with confidence.
Frequently asked questions
What currency does Oman use?
Oman's official currency is the Omani rial (ISO code OMR), divided into 1,000 baisa and issued by the Central Bank of Oman. Unusually, the rial is split into a thousand smaller units rather than a hundred, which is why fractional notes such as 100 baisa and 200 baisa circulate alongside the whole-rial denominations. The rial is one of the highest-valued currency units in the world by exchange rate, and the Central Bank of Oman has held it at a fixed 1 rial to US$2.6008 since 1986.
Why is the Omani rial so valuable?
The Omani rial is valuable because of a long-standing fixed peg to the US dollar rather than any recent surge. The Central Bank of Oman has held the rial at 1 rial to US$2.6008 since 1986, after an earlier peg of 1 rial to US$2.895, so a single rial is worth roughly two and a half US dollars. By exchange rate that ranks it the third most valuable currency unit in the world, after the Kuwaiti dinar and the Bahraini dinar, according to the exchange-rate ranking cited on Wikipedia's Omani rial entry.
What was the Saidi rial?
The Saidi rial was Oman's first modern currency, introduced on 7 May 1970 to replace the Gulf rupee at a rate of 1 Saidi rial to 21 rupees. It was named after the ruling House of Al Said, not to be confused with the Saudi riyal, and like the currency that followed it was divided into 1,000 baisa. The Saidi rial was short-lived: the Omani rial replaced it at par on 11 November 1972, when the currency was renamed at par from the Saidi rial to the Omani rial (the country itself had been renamed the Sultanate of Oman in 1970).
What is the Central Bank of Oman?
The Central Bank of Oman is Oman's central bank and the sole authority that issues, holds, and recalls the country's currency. It was established in December 1974 and began operations on 1 April 1975, taking over from the Oman Currency Board, and from the mid-1970s it issued its own family of banknotes, adding the 20 and 50 rial denominations in 1977. In 2019 the bank demonetized banknotes issued between 1976 and 1995, and in November 2025 it launched an official written symbol for the rial.
Are Omani banknotes a good place to start collecting?
Yes. Oman offers a compact, well-defined series that begins only in 1970, so a collector can cover the whole modern arc from the Saidi rial to the current polymer note without an overwhelming range of issues. Several early issues were demonetized in 2019, which thins their supply and adds interest, while modern portrait and national-day notes are attractive and often available in crisp Uncirculated condition. A good first purchase is a note where the history or the imagery is the draw, bought from a source-first dealer that documents where its notes come from.
Planet Banknote is a family-owned dealership in Sarasota, Florida, founded in 2021. Every note is sourced direct from mints, central banks, and authorized distributors, inspected through our Planet Banknote Verified process, and ships with a free Certificate of Authenticity. US orders ship free via USPS Priority, and every order includes a free bonus gift.